Fred Woods Quotations

We are not always going to agree on doctrine, but we need to find more common grounds to serve rather than battlegrounds to divide us.

Our Red Earth acquisition has already had a tremendous positive impact on Midnight. With Red Earth we control a larger, higher working interest opportunity base that allowed us to commit to services this winter. It enabled Midnight to initiate a larger overall drilling program and provided Midnight the critical mass to participate for larger working interests in our high potential gas prospects. Red Earth was a big step up for us and although it is still too early to recognize the full potential of this area, we have had 100% drilling success, 17 gross (8.8 net) wells and expanded the prospect base. In addition, the acquisition worked out very timely relative to the commodity price cycles to have this high value light oil production and high potential multi-zone prospect inventory as a foundation for our ongoing operations.

These top-ranked trusts are combining to create a truly leading-edge intermediate-sized energy trust. We share a common approach with our value-added business plan and now have an even stronger technical team.